RESOLUTION NO. 160
BOND RESOLUTION OF THE COUNTY OF ALBANY, NEW YORK, AUTHORIZING A CAPITAL PROJECT FOR THE DEPARTMENT OF PUBLIC WORKS STATING, THE ESTIMATED MAXIMUM COST THEREOF IS $7,050,000, APPROPRIATING SAID AMOUNT THEREFOR, AND AUTHORIZING THE ISSUANCE OF $7,050,000 OF SERIAL BONDS OF SAID COUNTY TO FINANCE SAID APPROPRIATION
Introduced: 3/11/24
By Audit and Finance Committee:
THE COUNTY LEGISLATURE OF THE COUNTY OF ALBANY, NEW YORK, HEREBY RESOLVES AS FOLLOWS:
Section 1. The County of Albany, New York (the "County") is hereby authorized to undertake the New Karner Road Corridor Improvements Project, which shall include but not be limited to pavement rehabilitation, safety improvements, signal timing updates and addition of complete streets components along New Karner Road (NY 155) from US 20 to Watervliet Shaker Road, as well as inclusion of a potential roundabout or diverging left at the Washington Avenue Extension Intersection, together with any necessary site work and the acquisition and installation of furnishings, equipment, machinery and apparatus for the foregoing purposes, together with the preparation of planning, engineering and feasibility studies and review, as further described in the 2022-2027 TIP program and the 2024 Capital Plan in the County's 2024-2028 Capital Program, as amended and supplemented (hereinafter referred to as the "Capital Program"). The estimated maximum cost of said specific object or purpose, including preliminary costs and costs incidental thereto and the financing thereof (including costs relating to the issuance of the obligations authorized by this resolution), is an amount not to exceed $7,050,000 and said amount is hereby appropriated therefor.
The plan of financing is described as follows: (a) the issuance of an amount not to exceed $7,050,000 of serial bonds (and bond anticipation notes in anticipation of the issuance of such serial bonds) in such series and amounts as may be nece...
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